What is the smart contracts? Back to list

Member SinceJul 08, 2021

Posts 214

Kihn

Nov 10, 2021 a 12:36
These contracts are "if-then" statements between two (or more) parties that are carried out digitally. As long as one group's needs are met, the agreement can be honoured, and the contract is deemed satisfactory. Suppose a farmer is asked to provide 100 ears of corn to a market. Funds will be placed into a smart contract, which can then be approved once the latter has delivered what it promised. After the farmer completes their work, the funds will be transferred directly to their account. If the farmer does not meet the agreed-upon deadline, the contract is terminated and the client's funds are returned. The example given above is merely an example. Smart contracts can be programmed to work for the majority of people, replacing government mandates and retail systems, among other things.

Member SinceAug 09, 2021

Posts 250

Hightrade

Nov 15, 2021 a 14:04
The smart contracts is a blockchain technology that enables transactions of digital assets or money as a computer code on a public ledger. It aims to power the future of business by putting together all the pieces of the puzzle, which include computing power, network protocol, and payment system.

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